After learning the results of the Continuous Employment Survey, which reflected a stagnation of unemployment, and the data of the Monthly Economic Activity Index calculated by the Central Bank, the union of industrialists from the Chamber of Industries of Costa Rica expressed their concerns about the projected growth of output and employment for 2016.
The overall unemployment rate in the country did not fall over the same period last year and that is very worrying because it is already at alarmingly high levels. The Central Bank forecasts that economic activity this year will grow more than 4%, we are concerned that growth is not generating enough jobs to reduce unemployment,”
said Francisco Gamboa, executive director of the Chamber.
The business representative said that it’s extremely important to implement the actions raised by the government to increase competitiveness and employment.
Costa Rica’s economic activity, measured by the cyclical trend series of the Monthly Economic Activity Index, recorded an average variation of 4.9% in June 2016.
According to the Central Bank, this behavior is due to the dynamism in most service sectors, as well as accelerating the growth of manufacturing and agricultural activities that emphasized the pace of recovery.